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The complexion of bank M&A has changed, say investment bankers at St. Charles Capital in Denver: buyers and sellers are healthier, both sides are closer together on valuations and more buyers are approaching targets directly in lieu of bidding wars.
August 27 -
The Armed Forces Benefit Association plans to sell its bank to local management. While insurers have been fleeing the industry due to regulation, the group says it is getting out because its membership's use of the bank is falling and it would rather use the capital to expand its life insurance business.
June 4
KPMG Corporate Finance has
The financial terms of the deal were not disclosed. KPMG said in its press release that the acquisition will expand its capital advisory services for mid-market companies, particularly in the energy, technology and telecommunications sectors.
"Demand for KPMG's Corporate Finance business continues to expand as companies increasingly look to inorganic growth to transform their operations," said Lynne Doughtie, vice chair for advisory at the firm, said in the release.
St. Charles has been one of the busiest dealmakers for banks the western United States. It was involved in five acquisitions last year and six so far this year, including Glacier Bancorp's (GBCI)
Since it was established in 2005, St. Charles has advised clients on more than 200 mergers and acquisitions, and raised nearly $1.4 billion in private capital, KPMG's release said.
KPMG Corporate Finance is a division of KPMG, the global audit and advisory firm.
